A guide for Kiwi home owners.

So, you’ve decided to sell! Selling an asset like this is not something you do every day and it's only natural to feel a bit daunted by the thought.

This guide will help you understand the process involved in selling a house, what your options are and how to weigh up the big decisions, so you come out with the best result for you. We will cover:

  • How selling a house in NZ works
  • Tips on getting your financial ducks in a row
  • Expert advice to help you decide whether to use a salesperson or not
  • The best strategies on how to engage with a salesperson
  • The ins and outs of the selling process
  • How to get ready for your first open home
  • Hands-on strategies when things don’t quite go to plan.

There’s a fair bit to do before putting up the For Sale sign, so let’s get started!

Getting your financial ducks in a row

 

The expenses of selling your current house and buying another will take a chunk of your equity. Before selling, weigh the expected capital gains against these transaction costs, as well as the relocation costs. Just like your house will be when those open homes roll around, your finances need to be neat and tidy:

  • Review your mortgage: Know your outstanding balance and any early repayment penalties.

  • Get a market appraisal: Understand your home’s current market value.

  • Set a realistic budget: Factor in agent fees, legal costs, building reports, and any repairs or upgrades.

  • Review Debt and Savings: Check your credit cards, insurance payments etc. and make sure you're in the clear.

  • Speak to Your Mortgage Broker: Get pre-approval for a new mortgage to be sure you can comfortably buy a new place once you sell. This mortgage calculator is also a great tool! It's independent and current.

Why use a salesperson?


Real estate salespeople have their finger on the pulse of the local market conditions where they operate and have the negotiation and marketing skills and networks required to get the best outcomes.

They are clued up about legal and tax issues, zoning, council regulations

Let a Professional do the hard yards and save you the time. Your salesperson will walk you through the whole process from beginning to end and negotiate on your behalf. For most people, these benefits outweigh what they pay in commission.

You want to work with someone you trust and feel comfortable with. Do you like their style and their sales history? You can look for a salesperson near you here.

What's included?


Every salesperson will operate slightly differently and may have options for you to choose from, depending on what you're willing to spend and feels most important to you, but in a general package, your salesperson will:

  • Prepare the marketing plan from photography and messaging, to website listings, social media and everything in between.
  • Help you set the sale price and method in alignment with current local market trends.
  • Show your home to potential buyers.
    Your salesperson will have a database of prospective buyers. Expect appointment viewings as well as open homes. They will also run the open homes for you.
  • Your salesperson will work to get the best price, in the quickest possible time. They will follow up prospective buyers, bring in offers for consideration, and negotiate on your behalf.
  • Even after you’ve accepted the offer your salesperson keeps working on your behalf to close the sale and ensure all the legal requirements are met and the paperwork is sorted.

Get your house open home ready


Every detail counts when it comes to making a good impression on prospective buyers. Clear surfaces, cosy but neutral decor, mowed lawn etc. You can see our full Pre-Open Home Checklist here for a good guide.

If you got a free market appraisal, you will have been given some great tips for how you can bump the value of your property with some further touch-ups. This may include repairs, filling in cracks, or some fresh paint.

Sales method

Your salesperson can help you make an informed decision on which sale method is best suited to your situation, your property, and the current local market.

  • Auction. The highest bidder wins as long as your reserve price has been met. This can drive up the price of your property if there are multiple bidders and is also a favoured option when there is urgency to sell. Ensuring there are multiple interested parties is the key to your success here.
  • Tender. Potential buyers submit their offers in writing along with any conditions. You choose which offer is most appealing and you can either accept or negotiate further.

  • Negotiation. Your home is advertised at a set price or price range. Potential buyers make offers in writing and then are able to negotiate with you on price and conditions.

Feeling ready?

Now you have an idea of what to expect from the process of selling, you will hopefully be feeling ready to get started. We have salespeople across the country who have all the knowledge and expertise to guide you through and handle the nitty gritty's. Find your local salesperson and get in touch today. Let's start this exciting journey together.